The USD/CAD pair attracts some dip-buying during the Asian session on Tuesday and reverses a part of the previous day's losses.
USD/CAD regains some positive traction amid the emergence of some USD dip-buying. Reduced Fed rate cut bets push the US bond yields higher and revive the USD demand. Geopolitical risks lend support to Oil prices, underpinning the Loonie and capping gains. The USD/CAD pair attracts some dip-buying during the Asian session on Tuesday and reverses a part of the previous day's losses. Spot prices, for now, seem to have stalled the recent pullback from the vicinity of mid-1.
The upbeat monthly US jobs data released on Friday, along with the recent hawkish remarks by several Federal Reserve officials, suggest that the US central bank may delay cutting interest rates. This, in turn, pushes the yield on the benchmark 10-year US government bond to its highest level since late November, which helps revive the USD demand and might continue to act as a tailwind for the currency pair.
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